Can the strong start in Q1 keep the company on track to meet the H1 forecast?

In Q1, from April through June 2026, revenue was ¥17,191 million, up 23.2% year on year, and operating profit was ¥2,902 million, up 61.1%. Ordinary profit was ¥2,978 million and net income attributable to owners of the parent was ¥3,280 million, up 65.2% and 160.0% year on year, respectively. The operating margin was approximately 16.9%, calculated as ¥2,902 million divided by ¥17,191 million, indicating profit growth substantially outpaced revenue growth.

Compared with the full-year forecast raised after Q1, revenue progress was 24.9%, calculated as ¥17,191 million divided by ¥69,000 million, while operating profit progress was 26.4%, calculated as ¥2,902 million divided by ¥11,000 million. The first-half cumulative forecasts are revenue of ¥34,000 million, operating profit of ¥5,500 million, ordinary profit of ¥5,500 million and net income of ¥5,000 million. Q2 alone therefore needs to generate revenue of ¥16,809 million, operating profit of ¥2,598 million and net income of ¥1,720 million. These amounts represent approximately 97.8% of Q1 revenue and 89.5% of Q1 operating profit, meaning the first-half plan assumes a business pace broadly similar to Q1.

The full-year plan calls for revenue to increase from ¥58,556 million and operating profit from ¥7,100 million in the fiscal year ended March 2026 to ¥69,000 million and ¥11,000 million, respectively. As of May 2026, the forecast for the fiscal year ending March 2027 was revenue of ¥65,000 million and operating profit of ¥9,000 million. As of Q1, these had been raised by ¥4,000 million for revenue and ¥2,000 million for operating profit. The company attributed the revisions mainly to stronger-than-expected sales in the advanced industries market, but did not disclose the contribution by factor.

At the next earnings announcement, the first priority will be to assess progress toward first-half cumulative revenue of ¥34,000 million and operating profit of ¥5,500 million. If Q2 revenue of ¥16,809 million and operating profit of ¥2,598 million are not achieved, additional acceleration in the second half will be needed to meet the full-year forecasts of ¥69,000 million and ¥11,000 million. Even if the first-half plan is exceeded, it will also be necessary to determine whether this was achieved through recurring segment sales rather than temporary extraordinary gains or one-off orders.